Nigerian fintech company Paga has appointed Opeyemi Oyinloye as acting chief executive of its Nigeria business, marking a major leadership transition after more than a decade under founder leadership.
Founder Tayo Oviosu said in a LinkedIn post he will step away from the day-to-day running of the Nigeria unit to assume the role of Group CEO, where he will oversee the company’s broader strategy and expansion. Oyinloye’s appointment is subject to approval from the Central Bank of Nigeria.
The move marks the first time since Paga’s launch in 2009 that its Nigeria operations will be led by someone other than its founder.
The company said the leadership change is part of a wider restructuring aimed at positioning Paga for its next phase of growth, including expansion into other African markets and increased investment in emerging areas such as artificial intelligence, stablecoins and global payments infrastructure.
Oviosu, who has led Paga since inception, will focus on scaling the group’s technology and strengthening its position as a financial services platform connecting African users to global systems.
Oyinloye, who has held senior roles within the company, will oversee operations in Nigeria, Paga’s largest and most mature market.
The transition comes amid strong growth, with Paga processing 17.1 trillion naira in transactions in 2025, a 96% increase year-on-year, highlighting rising adoption of digital payments in Nigeria.
The company has also expanded beyond its home market through partnerships with global players such as PayPal and by building products for cross-border transactions.
Paga’s restructuring reflects a broader trend among African fintechs, where founders are increasingly moving into group or strategic roles as companies scale across markets. Similar leadership transitions have been observed at firms such as Flutterwave, as they evolve from local payment solutions into multi-market financial infrastructure providers.
The company said the changes signal the start of a new phase focused on cross-border payments, interoperability and building scalable systems for digital finance.
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